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Chapter 3 The Ricardian Model 第3章：李嘉图模型

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1、Countries trade with each other because they are _______ and because of ______. 【A】different, costs

各国相互贸易，因为他们是因为______和_______ 。 不同，成本

2、Trade between two countries can benefit both countries if

【A】 each country exports that good in which it has a comparative advantage. 贸易两国可以造福两国如果

每个国家的出口，在哪个好它具有比较优势。 3、The Ricardian theory of comparative advantage states that a country has a comparative advantage in widgets if

【D】 the output per worker of widgets as compared to the output of some other product is higher in that country.

比较优势的李嘉图理论指出，一个国家具有比较优势的小工具，如果 每个部件相比，其他一些产品的输出工人的输出是在该国较高。

4、In order to know whether a country has a comparative advantage in the production of one particular product we need information on at least ____unit labor requirements 【D】 four

为了了解一个国家是否具有比较优势的生产，我们需要在至少____单位劳动力需求信息的一个特定产品 4

5、A country engaging in trade according to the principles of comparative advantage gains from trade because it

【B】is producing imports indirectly more efficiently than it could domestically. 一个国家根据贸易比较优势的收益的原则从事贸易，因为它 间接比它可能在国内更高效地生产进口。

6、In a two product two country world, international trade can lead to increases in 【B】 output of both products and consumer welfare in both countries. 在两产品，有两个国家世界，国际贸易可能会导致增加 在产品和消费者福利的两国 输出。

7、A nation engaging in trade according to the Ricardian model will find its consumption bundle 【C】 outside its production possibilities frontier. 一个国家根据李嘉图模型经商会发现它的消费束 它的生产可能性边界之外。

8、In the Ricardian model, if a country's trade is restricted, this will cause all except which? 【C】 Cause nations to produce inside their production possibilities curves 在李嘉图模型中，如果一个国家的贸易受到限制，这将导致所有除有哪些？ 因为国家产生在他们的生产可能性曲线

9、If a very small country trades with a very large country according to the Ricardian model, then

【C】 the small country will enjoy gains from trade.

如果一个非常小的国家，一个非常大的国家根据李嘉图模型交易，然后 的小国将享受贸易收益。

10、If the world terms of trade for a country are somewhere between the domestic cost ratio of H and that of F, then

【B】 country H and country F will both gain from trade.

如果贸易是一个国家的世界而言是H的国内费用率和使得F ，则介于两者之间 国H和国F将贸易双方的增益。

11、If the world terms of trade equal those of country F, then 【A】 country H but not country F will gain from trade. 如果贸易世界而言等于那些国F ，然后 国h但不国F将获得从贸易。

12、If the world terms of trade equal those of country ,F then 【A】 country H but not country F will gain from trade. 如果贸易世界而言等于这些国家，F则 国h但不国F将获得从贸易。

13、The earliest statement of the principle of comparative advantage is associated with 【B】 David Ricardo.

的比较优势原理最早的语句相关联 大卫?李嘉图。

14、If one country's wage level is very high relative to the other's (the relative wage exceeding the relative productivity ratios), then

【D】 it is possible that both will enjoy the conventional gains from trade.

如果一个国家的工资水平是非常高的相对其它的（相对工资超过了相对生产率的比率） ，然后 这是可能的，两者都将享受贸易传统的收益。

15、The Ricardian model is based on all of the following except 【D】 product quality varies among nations. 李嘉图模型是基于以下所有除 国家之间的产品质量参差不齐。

16、According to Ricardo, a country will have a comparative advantage in the product in which its

【B】 labor productivity is relatively high. 根据李嘉图，一个国家将具有比较优势的产品中，其 劳动生产率相对较高。

17、Assume that labor is the only factor of production and that wages in the United States equal $20 per hour while wages in Japan are $10 per hour. Production costs would be lower in the United States as compared to Japan if

【A】 U.S. labor productivity equaled 40 units per hour and Japan's 15 units per hour. 假设劳动力是生产的唯一因素，而工资在美国等于20元每小时，而工资在日本是每小时10美元。相比，日本生产成本就降低了在美国，如果

美国的劳动生产率相当于40台每小时每小时日本的15个单位。 ________________________________________

Chapter 5 The Factor Endowment Theory 第5章：要素禀赋理论

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1、In the 2-factor, 2 good，Heckscher-Ohlin model, an influx of workers from across the border would

【D】shift the production possibility curve outward and decrease the production of the capital-intensive product.

在双因素， 2商品，赫克歇尔 - 俄林模型中，工人来自全国各地的边境涌入会 向外转移生产可能性曲线，降低生产资本密集型产品。

2、In the 2-factor, 2 good Heckscher-Ohlin model, the two countries differ in 【D】relative availabilities of factors of production. 在双因素， 2商品赫克歇尔 - 俄林模型，两国在不同 相对于生产要素的供应量。

3、In the 2-factor, 2 good Heckscher- Ohlin model, a change from autarky (no trade) to trade will benefit the owners of

【B】the relatively abundant factor of production.

在双因素， 2商品赫克歇尔 - 俄林模型，从自给自足的变化（无交易）交易将有利于业主 生产相对丰富的要素。

4、In the 2-factor, 2 good Heckscher- Ohlin model, a change from autarky (no trade) to trade 【A】will tend to make the wages in both countries more similar. 在双因素， 2商品赫克歇尔 - 俄林模型，从自给自足的变化（无交易）贸易 将趋于使这两个国家的工资更相似。 5、The Leontieff Paradox

【D】failed to support the validity of the Heckscher-Ohlin model. Leontieff悖论

未能支持赫克歇尔 - 俄林模型的有效性。 6、The Leontieff Paradox

【A】refers to the finding that U.S. exports were more labor intensive than its imports. Leontieff悖论

是指发现，美国出口劳动密集型的比其进口。

7、According to the Heckscher-Ohlin model, the source of comparative advantage is a country's 【D】factor endowments.

根据赫克歇尔 - 俄林模型，比较优势的来源是一个国家的 的要素禀赋。

8、The Hechscher-Ohlin model states that a country will have a comparative advantage in the good or service whose production is relatively intensive in the ______ with which the country is relatively abundant.

【C】factor of production.

Hechscher - 俄林模型指出，一个国家将具有比较优势的商品或服务，其产量相对密集的______与该国是比较丰富的。 生产要素。

9、The Heckscher-Ohlin model assumes that _____ are identical in all trading countries 【D】Both A. and B.

赫克歇尔 - 俄林模型假设_____是相同的所有贸易国 无论A.和B。

10、Starting from an autarky (no-trade) situation with Heckscher-Ohlin model, if Country H is relatively labor abundant, then once trade begins 【C】wages should rise and rents should fall in H.

从自给自足（无交易）的情况与赫克歇尔 - 俄林模型出发，如果国家H是劳动力相对充裕，那么一旦开始交易

工资应该上涨，租金应落在H。 11、Suppose that there are two factors, capital and land, and that the United States is relatively land endowed while the European Union is relatively capital-endowed. According to the Heckscher-Ohlin model,

【B】European capitalists should support US-European free trade.

假设有两个因素，资本和土地，而美国相对拨地而欧盟是资本相对赋。按照赫克歇尔 - 俄林模型， 欧洲资本家应该支持美国的欧洲自由贸易。

12、 Assume that only two countries, A and B, exist. Consider the following data: Countries Factor Endowments A B

Labor Force 45 20 Capital Stock 15 10

If good S is capital intensive, then following the Heckscher-Ohlin Theory, 【B】country B will export good S. 假设只有两个国家， A和B存在。 考虑下面的数据：国家 要素禀赋A B 劳动力45 20 资本金15 10

如果商品S是资本密集型的，然后按照赫克歇尔 - 俄林理论， B国将出口商品S。

13、Continuing from Question #12, if you are told that Country B is very much richer than Country A, then the correct answer is:

【B】country B will export good S.

从问题＃ 12继续，如果你被告知，国家B比A国非常丰富得多，那么正确答案是： B国将出口商品S。

14、Continuing from Question #12, you are told that Country B is very much larger than country A. The correct answer is:

【B】country B will export good S.

从问题＃ 12继续，你被告知，国家B比A国大得多正确的答案是： B国将出口商品S。

15、Continuing from Question #12, you are told that Country B has no minimum wage or child labor laws. Now the correct answer is: 【B】country B will export good S.

从问题＃ 12继续，你被告知，国家B有没有最低工资或者童工的法律。现在，正确的答案是： B国将出口商品S。

16、Continuing from Question #12, you now are told that the labor unions representing the workers in each of the two respective countries are considering lobbying against the opening of

international trade between these two countries. Note that workers’ income is derived solely from wages.

【C】This would be a good decision from the viewpoint of workers in Country B since international trade helps the capitalists and hurts the workers.

从问题＃ 12继续，你现在被告知，工会代表工人每两个各自国家正在考虑游说反对这两个国家之间的国际贸易的开放。需要注意的是工人的收入，从单纯的工资所得。

这是工人在B国的观点一个很好的决定，因为国际贸易可以帮助资本家和伤害的工人。

17、The following are all assumptions that must be accepted in order to apply the Heckscher-Ohlin Theory, except for one:

【B】countries differ in their technologies.

以下是必须以应用赫克歇尔 - 俄林理论，除了一个可以接受所有的假设： 国家在他们的技术有所不同。

18、When Country A produces both goods more efficiently than Country B, then

（country A should produce both goods and not trade/ country A should specialize in its good of least absolute disadvantage/ both countries would benefit from autarky/ both countries may not benefit from trade） 【E】None of the above.

当A国生产两种商品的效率比B国，则

（ A国应该生产两种商品，而不是贸易/ A国应该专门在其良好的至少绝对劣势的/这两个国家将受益于自给自足/这两个国家可能无法从贸易中受益） 以上都不是。

19、The minimum information required to determine Country A’s comparative advantage is

（the number of hours of labor in the economy of A/ ratio of labor inputs for products S and T in A/ total available labor, labor required per unit of S, and labor required per unit of T in A/ total available labor and the ratio of labor inputs for S and T in A） 【E】None of the above.

需要确定A国的比较优势的最低限度的信息是

（劳动小时的劳动投入的A /比经济数量的产品S和T在A /总的可用劳动力，每单位的S所需的劳动力，而在A /总的可用劳动力单位的T所需的劳动力和在一个劳动力投入为S和T的比例） 以上都不是。

20、The slope of a country’s PPF reflects

【A】the opportunity cost of product S in terms of product T. 一个国家的PPF的斜率反映

产品S的机会成本在产品T的条款

21、The Heckscher-Ohlin model predicts all of the following except: 【C】the volume of trade.

赫克歇尔 - 俄林模型预测所有除以下各项： 贸易额。

22、The Heckscher-Ohlin model differs from the Ricardian model of Comparative Advantage in that the former

【C】has two factors of production.

赫克歇尔 - 俄林模型不同于比较优势的李嘉图模型中，前者 有两种生产要素。

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Chapter 7: Economies of Scale, Imperfect Competition, and International Trade 第7章：规模经济、不完全竞争和国际贸易

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1、External economies of scale arise when the cost per unit

【B】falls as the industry grows larger rises as the average firm grows larger. 外部规模经济产生的每单位成本

落行业的发展作为企业平均增长较大上升。

2、Internal economies of scale arise when the cost per unit 【D】falls as the average firm grows larger. 规模的经济内部时产生的每单位成本 落企业平均增长较大。

3、External economies of scale

【A】may be associated with a perfectly competitive industry. 外部经济

可以用一个完全竞争的行业相关。

4、Internal economies of scale

【B】cannot be associated with a perfectly competitive industry. 内部经济

不能与一个完全竞争的行业相关联。

5、Where there are economies of scale, an increase in the size of the market will 【C】increase the number of firms and lower the price per unit. 凡有经济规模，增加市场的规模将 增加企业数量，降低每单位的价格。

6、The simultaneous export and import of widgets by the United States is an example of 【C】intra-industry trade.

部件由美国的同时出口和进口是一个例子 产业内贸易。

7、If output more than doubles when all inputs are doubled, production is said to occur under conditions of

【A】increasing returns to scale.

如果不是所有输入时增加一倍产量增加一倍多，生产，据说条件下发生 报酬递增的规模。

8、Intra-industry trade can be explained in part by 【C】increasing returns to scale. 产业内贸易可以部分通过解释 报酬递增的规模。

9、Intra-industry trade is most common in the trade patterns of 【B】industrial countries of Western Europe. 产业内贸易是最常见的的贸易模式 工业西欧国家。

10、International trade based on scale economies is likely to be associated with

（Ricardian comparative advantage/ comparative advantage associated with Heckscher-Ohlin factor-proportions/ comparative advantage based on quality and service/ comparative advantage based on diminishing returns） 【E】None of the above.

基于规模经济的国际贸易是可能与相关的

（基于质量和服务/比较优势赫克歇尔 - 俄林因子比例/比较优势的相关李嘉图的比较优势/比较优势基础上的收益递减） 以上都不是。

11、International trade based on external scale economies in both countries is likely to be carried out by a

【A】relatively large number of price competing firms. 根据两国的外部规模经济的国际贸易可能进行由 比较多的价格竞争公司。

12、International trade based solely on internal scale economies in both countries is likely to be carried out by a

【C】relatively small number of competing oligopolists. 仅基于在这两个国家的内部规模经济的国际贸易可能进行由 数量相对较少的寡头竞争的。

13、A monopoly firm engaged in international trade will

【D】equate marginal costs with marginal revenues in both domestic and in foreign markets.

从事国际贸易的垄断企业将

等同于在国内和国外市场的边际收益边际成本。

14、The larger the number of firms in a monopolistic competition situation, 【D】the lower is the price charged. 较大的垄断竞争局面的企业数量， 下层是收费价格。

15、The monopolistic competition model is one in which there is/are 【C】economies of scale. 垄断竞争模型是其中一个有规模的 经济体。

16、In industries in which there are scale economies, the variety of goods that a country can produce is constrained by 【C】the size of the market.

在其中有规模经济行业，各种商品，一个国家可以生产由被约束 的市场规模。

17、An industry is characterized by scale economies, and exists in two countries. Should these two countries engage in trade such that the combined market is supplied by one country's industry, then

（consumers in both countries would suffer higher prices and fewer varieties/ consumers in the importing country would suffer higher prices and fewer varieties/ consumers in the exporting country would suffer higher prices and fewer varieties/ consumers in both countries would enjoy fewer varieties available but lower prices） 【E】None of the above.

一个行业的特点是规模经济，而存在于两个国家。应该这两个国家从事贸易，使得合并后的市场是由一个国家的工业供电，然后

（消费者在这两个国家将受到更高的价格和更少的品种/消费者在进口国将受到更高的价格和更少的品种/消费者在出口国将受到更高的价格和更少的品种/消费者在这两个国家将享有较少的品种可用，但低价格）

以上都不是。

18、A product is produced in a monopolistically competitive industry with scale economies. If this industry exists in two countries, and these two countries engage in trade one with the other, then we would expect

【C】each of the countries will export different varieties of the product to the other. 一个产品是在一个垄断竞争行业的规模经济。如果这个行业存在于两个国家，这两个国家从事与其他贸易之一，那么我们期望每个国家的 将不同品种的产品出口到其他。

Essay Questions 论述题

（1）Why is it that an industry is operating under conditions of domestic internal scale economies (applies to firm in the country) - then the resultant equilibrium cannot be consistent with the pure competition model?

为什么一个行业是国内内部规模经济（适用于公司在国内）的条件下运行 - 然后将得到的均衡不能与完

全竞争模型相一致？

Answer: Because once one firm became bigger than another, or if one firm began the industry, then no other firm would be able to match its per unit cost, so that they would be driven out of the industry.

答：因为一旦一个公司变得大于另一个，或者如果一个公司开始这个行业，那么没有其他的公司将能够向其单位成本相匹配，使他们被赶出行业。

（2）Is it possible that if positive scale economies characterize an industry, that its equilibrium may be consistent with purely competitive conditions ? Explain how this could happen. 是否有可能，如果积极的规模经济特征的行业，它的平衡可能是纯粹的竞争条件是否一致？解释这是怎么发生的。

Answer: Yes. If the scale economies were external to the firm, then there is no reason why the firms may not be in perfect competition.

答：是的。如果规模经济是外部的公司，那么有没有理由的企业可能不完全竞争。 （3）If a scale economy is the dominant technological factor defining or establishing comparative advantage, then the underlying facts explaining why a particular country dominates world markets in some product may be pure chance, or historical accident. Explain, and compare this with the answer you would give for the Heckscher-Ohlin model of comparative advantage.

如果一个经济规模是定义或建立比较优势的主导技术因素，那么相关的事实，解释为什么一个特定的国家主导世界市场的某些产品可能是纯属偶然，还是历史的偶然。解释，并比较，你会给出比较优势的赫克歇尔 - 俄林模型进行比较。 Answer: This statement is true, since the reason the seller is a monopolist may be that it happened to have been the first to produce this product in this country. It may have no connection to any supply or demand related factors; nor to any natural or man-made availability. This is all exactly the opposite of the Heckscher-Ohlin Neo-Classical model's explanation of the determinants of comparative advantage.

答：这种说法是真实的，因为原因是卖方垄断者可能是因为它发生在已经率先生产这种产品在这个国家。它可能需要的任何供应或需求相关的因素没有关系;也不是任何自然或人为的可用性。这是所有的比较优势决定的赫克歇尔 - 俄林的新古典模型的解释完全相反。

（4）It is possible that trade based on external scale economies may leave a country worse off than it would have been without trade. Explain how this could happen.

这可能是基于外部规模经济贸易可能离开一个国家逊于它本来没有贸易。解释这是怎么发生的。 Answer: One answer is that the terms of trade effects may dominate any other factors. 答：答案之一是，贸易影响的条款可能会占主导地位的任何其他因素。

（5）If scale economies were not only external to firms, but were also external to individual countries. That is, the larger the worldwide industry (regardless of where firms or plants are located), the cheaper would be the per-unit cost of production. Describe what world trade would look like in this case.

如果规模经济不仅是外部的企业，但也对外向个别国家。也就是说，较大的全球行业（无论在哪里，公司或工厂所在地） ，便宜的是生产的单位成本。描述贸易会是什么样在这种情况下，什么世界。

Answer: Presumably each country would specialize in some component of the final product. This would result in much observed intra-industry trade.

答：大概每个国家将专注于最终产品的某些部分。这将导致观察到的很多产业内贸易。 ________________________________________

Chapter 9: The Instruments of Trade Policy 第9章：贸易政策的工具

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1、Specific tariffs are

【B】import taxes calculated as a fixed charge for each unit of imported goods. 从量关税

进口税计算为固定收费的进口货物每个单位。 2、Ad valorem tariffs are

【C】import taxes calculated as a fraction of the value of the imported goods. 从价关税

进口税计算为进口货物价值的一小部分。

3、If a good is imported into (large) country H from country F, then the imposition of a tariff in country H

【E】raises the price of the good in H and lowers it in F. 如果一个商品从国F ，然后强加在全国H的关税进口到（大）国H 提高的商品H中的价格，并降低它

4、If a good is imported into (small) country H from country F, then the imposition of a tariff In country H

【B】raises the price in country H and cannot affect its price in country 如果一个商品从国F ，则征收关税在国家H的导入（小）国H 提价在国内H和可以在不影响其价格的国家

5、The effective rate of protection measures

【D】the protection given by the tariff to domestic value added. 保护措施有效率

由关税给国内的价值所给予的保护补充说。

6、The imposition of tariffs on imports results in deadweight (triangle) losses. These are 【A】production and consumption distortion effects. 关税对进口的征收导致载重吨（三角形）的损失。这些都是 生产和消费的失真效果。

7、A lower tariff on imported steel would most likely benefit 【C】domestic consumers of steel. 对进口钢材征收关税较低的最有可能受益 国内消费者的钢材。

8、Of the many arguments in favor of tariffs, the one that has enjoyed significant economic justification has been the 【B】infant industry argument.

有利于电价的许多论点，就是那个一直享有显著的经济理由一直是 幼稚产业的说法。

9、The main redistribution effect of a tariff is the transfer of income from 【B】domestic buyers to domestic producers. 关税的主要再分配效应是收入的转移 国内买家对国内生产者。

10、The principle benefit of tariff protection goes to 【C】domestic producers of the good produced. 关税保护原则的好处去 国内生产商生产的商品。 11、As globalization tends to increase the proportion of imported inputs relative to domestically supplied components,

【D】the rate of (effective) protection automatically decreases.

随着全球化趋向于增加相对于国内供应的元件进口投入的比例， （有效）的保护率会自动降低。

12、Which of the following policies permits a specified quantity of goods to be imported at one tariff rate and a higher tariff rate to imports above this quantity? 【C】Tariff quota

下列政策，允许指定数量的货物在同一关税税率要导入和较高的关税税率进口超过这个数量是多少？ 关税配额

13、Should the home country be \relative to its trade partners, its imposition of a tariff on imports would lead to an increase in domestic welfare if the terms of the trade rectangle exceed the sum of the

【D】protective distortion effect plus consumption distortion effect.

如果母国是“大”相对于其贸易伙伴，其征收进口关税会导致增加国内的福利，如果贸易矩形的条款超出的总和

保护失真效果，加上消费失真效果。

14、A problem encountered when implementing an \【B】the industry may never \

实施一个“幼稚产业”关税时遇到的一个问题是， 该行业可能从来没有“成熟” 。

15、Which of the following is a fixed percentage of the value of an imported product? 【B】Ad valorem tariff

下列哪项是进口产品的价值的固定百分比？ 从价关税

16、A tax of 20 cents per unit of imported garlic is an example of a(n) 【A】specific tariff.

每单位进口大蒜20美分的税是（ N）的一个例子 从量关税。

17、A tax of 20 percent per unit of imported garlic is an example of a(n) 【B】ad valorem tariff.

每单位进口的大蒜20 ％的税是（ N）的一个例子 从价关税。

18、Which type of tariff is forbidden in the United States on Constitutional grounds? 【B】Export tariff

哪种类型的关税是被禁止的，在美国宪法上的理由？ 出口关税

19、Tariffs are not defended on the ground that they 【A】improve the terms of trade of foreign nations. 关税不辩护，理由是他们 提高外国的贸易条件。

20、The most vocal political pressure for tariffs is generally made by 【E】producers lobbying for import tariffs. 对于关税的最响亮的政治压力一般是由 生产商游说的进口关税。

21、A policy of tariff reduction in the computer industry is

【B】in the interest of United States as a whole but not in the interest of computer producing regions of the country. 在计算机行业降税的政策是

在美国作为一个整体而不是在该国的计算机生产地区的利益。

22、The fact that industrialized countries levy very low or no tariff on raw materials and semi processed goods

【C】hurts developing country efforts to export manufactured goods. 工业化国家征收原料及半加工产品非常低或无关税的事实 伤害发展中国家的努力，出口制成品。

Essay Questions 论述题

（1）Economic theory in general, and trade theory in particular are replete with equivalencies. For example, it is argued that for any specific tariff one can find an equivalent ad valorum tariff; and that for any quota one can calculate a tariff equivalent. Discuss conditions or situations under which a specific and an ad valorum tariff are not equivalent. Discuss conditions or situations when a tariff and a quota are not equivalent.

一般经济理论和贸易理论尤其充满或者类似的东西。例如,它认为任何特定的关税是可以找到一个等价的广告佛伦关税;而对于任何关税配额可以计算一个等价的。讨论条件或情况下,一个特定的和一个广告佛伦关税并不等价。讨论条件或情况下当关税和配额并不等价。

Answer: E.g. during a period of price inflation, an ad valorum tariff would become increasingly more effective. The government does not receive any of the quota revenues, unless the import licenses are sold or auctioned.

答:如价格通胀期间,一个广告佛伦关税会越来越更加有效。政府不接受任何配额收入,除非进口许可证出售或拍卖。 （2）The Metzler Paradox is a special case of the optimum tariff concept. Discuss this assertion. Would the optimum tariff tend to be a high one or a low one in the case where this paradox exists? What conditions would be needed in the international markets for a country's exports for this paradox to exist? Why do you suppose empirical support for the existence of this paradox has not been forthcoming to date?

麦茨勒悖论是一种特殊情况下的最优关税的概念。讨论这个断言。将最优关税往往是高还是低的情况下,这种矛盾存在吗?什么情况下需要在国际市场对一个国家的出口对这一悖论存在吗?为什么你认为实证支持这一悖论的存在没有被即将到来的日期吗?

Answer: The Metzler Paradox describes an unlikely situation in which the imposition of a tariff not only improves a country's welfare, but also improves that of its domestic consumers. If this paradox were present then the magnitude of the optimum tariff would tend to be large, since the welfare decreasing decrease in imports is not present in this case (the imports actually increase, as world prices drastically drop). The Metzler Paradox could occur only if the foreign offer curves are inelastic. It is not likely to be observed because trade elasticities tend to be relatively large. Also, were it to exist, its activation by a large country would tend to evoke foreign retaliation.

答:麦茨勒悖论描述了一个不太可能的情况下,关税的征收不仅提高了一个国家的福利,而且还可以改善,国内消费者。如果这个悖论在场那么级最优关税往往会很大,因为福利减少减少进口不存在在这种情况下(实际上进口增加,世界价格大幅下降)。麦茨勒的矛盾只有在外国提供曲线可能发生非弹性。它不可能被观察到,因为贸易弹性相对较大。同样,如果存在,其激活一个幅员辽阔的国家会唤起外国报复。

（3）Some argue that tariffs always hurt the imposing country's economic welfare, and are typically designed to shift resources from one sector to another, protected or preferred one, within an economy. Find and discuss a counterexample to this argument.

有些人认为关税总是伤害对国家的经济福利,和通常用来转移资源从一个部门到另一个,或优先保护,在一个经济。发现并讨论这个论点的反例。

Answer: The optimum tariff is theoretically a first-best trade policy. 答:理论上最优关税first-best贸易的政策。

（4）The effective rate of protection is a weighted average of nominal tariffs and tariffs on imported inputs. It has been noted that in most industrialized countries, the nominal tariffs on raw materials or intermediate components or products are lower than on final-stage products meant for final markets. Why would countries design their tariff structures in this manner? Who tends to be helped, and who is harmed by this cascading tariff structure? 有效保护率的加权平均名义关税和进口关税。已经指出,在大多数工业化国家,名义关税低于原材料或中间组件或产品后产品意味着最终的市场。为什么国家设计他们的关税结构以这种方式?倾向于帮助谁,伤害这种级联关税结构是谁?

Answer: The cascading tariff structure is probably the result of systematic lobbying on the part of manufacturing interests and lobbies to lower costs of production（in terms of imported inputs）. The end result is in fact to create effective rates of production for downstream, or final manufacturing processes that are often much higher than nominal tariffs on these products. An important group, which is hurt by this are exporters of raw materials and components in developing countries.

答:级联关税结构可能是系统性的游说的结果制造利益和游说集团降低生产成本(输入)进口。最终的结果实际上是创建有效的生产下游,或最终生产过程往往远高于名义关税这些产品。一个重要群体,受此伤害发展中国家的原材料和组件的出口商。 （5）The two deadweight triangles are the Consumption distortion and Production distortion losses. It is easy to understand why the Consumption distortion constitutes a loss for society. After all it raises the prices of goods to consumers, and even causes some consumers to drop out of the market altogether. It seems paradoxical that the Production distortion is considered an equivalent burden on society. After all, in this case, profits increase, and additional production (with its associated employment) comes on line. This would seem to be an offset rather than an addition to the burden or loss borne by society. Explain why the Production distortion is indeed a loss to society, and what is wrong with the logic that leads to the apparent paradox. 两个无谓三角形消费扭曲和生产扭曲的损失。很容易理解为什么消费扭曲对社会构成的损失。毕竟这对消费者提出了商品的价格,甚至导致一些消费者完全退出市场。这似乎是自相矛盾的,生产变形被认为是一个等价的社会负担。毕竟,在这种情况下,利润增加,额外的生产(及其相关就业)。这似乎是一个偏移量,而不是一个由社会承担责任或损失。解释为什么生产扭曲社会的确实是一个损失,和逻辑有什么问题导致明显的悖论。

Answer: The Production distortion is a loss to society because it constitutes a loss to consumer surplus, which is not recouped by any other group in society. The actual triangle here represents an inefficient shift of society’s resources to produce a good, which it could not sell profitably at world prices. Since（with full employment assumed）these resources were formerly used to produce export goods, which could compete profitably, the net result is a loss in real income to the country.

答:生产社会的扭曲是一个损失,因为它构成对消费者剩余的损失,而不是由任何其他补偿社会集团。这里的实际三角形代表低效的转变产生良好的社会资源,它不可能在世界价格出售获利。因为(与充分就业假设)这些资源以前用于生产出口货物,这可能有利可图的竞争,最终结果是实际收入的损失。

Quantitative/Graphing Problems 图表题

①In the Figure above, in the absence of Trade how many Widgets does this country produce and consume?

在上面的图中,如果没有贸易，有多少部件这个国家生产和消费吗? Answer: 60

②In the absence of trade what is the country's consumer plus producer surplus? 在没有贸易的国家，消费者和生产者的剩余是什么？ Answer: $180, $180

③With free trade and no tariffs, what is the quantity of Widgets imported? 随着自由贸易和无关税，什么是小部件的进口量？ Answer: 100

④With a specific tariff of $3 per unit, what is the quantity of Widget imports? 随着3美元每单位从量关税，部件进口的数量是多少？ Answer: 80

⑤The loss of Consumer Surplus due to the tariff equals 由于关税均衡，损失的消费者剩余 Answer: $230

⑥The lowest specific tariff which would be considered prohibitive is 最低从量关税将被禁止 Answer: $5

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CHAPTER 13、14、15

EXCHANGE-RATE DETERMINATION 第13、14、15章：汇率理论

______________________________________

1、Which of the following tends to cause the U.S. dollar to appreciate in value? 【B】Rapid economic growth in foreign countries 下列哪往往导致美元升值? 在国外经济快速增长

2、An appreciation in the value of the U.S. dollar against the British pound would tend to: 【A】Discourage the British from buying American goods 欣赏价值的美元兑英镑会倾向于: 阻止英国购买美国商品

3、A depreciation of the dollar refers to a (an): 【B】Increase in the dollar price of foreign currency 美元贬值是指(一个):

外国货币的美元价格的增加

4、An increase in the dollar price of other currencies tends to cause: 【A】U.S. goods to be cheaper than foreign goods 其他货币的美元价格的增加往往会导致: 货物要比外国商品

5、Over time, a depreciation in the value of a nation’s currency in the foreign exchange market will result in:

【A】Exports rising and imports falling

随着时间的推移,贬值的价值一个国家的货币在外汇市场将导致: 出口增加,进口减少

6、Suppose the exchange rate between the Japanese yen and the U.S. dollar is 100 yen per dollar. A Japanese stereo with a price of 60,000 yen will cost: 【B】$600

假设日元和美元之间的汇率是1美元兑100日圆。日本音响以60000日元的价格将成本: 600美元 7、Suppose that a Swiss watch that costs 400 francs in Switzerland costs $200 in the United States. The exchange rate between the franc and the dollar is: 【A】2 francs per dollar

假设一个瑞士手表,成本400法郎在瑞士成本400美元在美国。瑞郎和美元之间的汇率是: 法郎兑美元

8、Under a system of floating exchange rates, the Swiss franc would depreciate in value if which of the following occurs?

【D】Falling interest rates in Switzerland

在浮动汇率制度下,瑞士法郎贬值的价值如果发生下列哪? 在瑞士利率下降

9、The relationship between the exchange rate and the prices of tradable goods is known as the: 【A】Purchasing-power-parity theory 汇率之间的关系和可交易商品的价格被称为: 购买力平价理论

10、If the exchange rate between Swiss francs and British pounds is 5 francs per pound, then the number of pounds that can be obtained for 200 francs equals: 【B】40 pounds

如果瑞士法郎和英镑之间的汇率是5法郎每磅,然后的磅数可以获得200法郎等于: 40磅

11、Low real interest rates in the United States tend to:

【A】Decrease the demand for dollars, causing the dollar to depreciate 低实际利率在美国倾向于:

减少对美元的需求,导致美元贬值

12、High real interest rates in the United States tend to:

【D】Increase the demand for dollars, causing the dollar to appreciate 高实际利率在美国倾向于:

增加对美元的需求,导致美元升值

13、Assume that the United States faces an 8 percent inflation rate while no (zero) inflation exists in Japan. According to the purchasing-power-parity theory, the dollar would be expected to:

【B】Depreciate by 8 percent against the yen

假设美国面临着8%通货膨胀率而在日本不存在通货膨胀(零)。根据购买力平价理论,预计美元将: 兑日圆贬值了8%

14、In the presence of purchasing-power parity, if one dollar exchanges for 2 British pounds and if a VCR costs $400 in the United States, then in Great Britain the VCR should cost: 【D】800 pounds

在购买力平价的存在,如果一美元交流2英镑,如果一个录像机花费400美元在美国,然后在英国录像机应该成本: 800磅

15、If wheat costs $4 per bushel in the United States and 2 pounds per bushel in Great Britain, then in the presence of purchasing-power parity the exchange rate should be: 【C】$2.00 per pound

如果4美元每蒲式耳小麦成本在美国和2磅每蒲式耳在英国,然后在购买力平价汇率应该是: 每磅2.00美元

16、A primary reason that explains the appreciation in the value of the U.S. dollar in 2005 is: 【D】High interest rates in the United States 一个主要原因,解释了升值2005年美元的价值是: 在美国的高利率

17、When the price of foreign currency (i.e., the exchange rate) is below the equilibrium level: 【A】An excess demand for that currency exists in the foreign exchange market 当外国货币的价格(即。,汇率低于均衡水平: 货币在外汇市场上存在过度需求

18、When the price of foreign currency (i.e., the exchange rate) is above the equilibrium level: 【A】An excess supply of that currency exists in the foreign exchange market 当外国货币的价格(即。,汇率)高于均衡水平: 一个供应过剩的货币在外汇市场上存在

19、For the United States, suppose the annual interest rate on government securities equals 8 percent while the annual inflation rate equals 4 percent. For Japan, suppose the annual interest rate on government securities equals 10 percent while the annual inflation rate equals 7 percent. These variables would cause investment funds to flow from: 【C】Japan to the United States, causing the yen to depreciate

对于美国来说,假设每年的政府债券利率等于8%,年通货膨胀率等于4%。对日本来说,假设每年的政府债券利率等于10%,年通货膨胀率等于7%。这些变量会导致投资基金流: 日本美国,使日元贬值

20、Under a system of floating exchange rates, relatively low productivity and high inflation rates in the United States result in: 【A】An increase in the demand for foreign currency, a decrease in the supply of foreign currency, and a depreciation in the dollar

在浮动汇率制度下,相对较低的生产率和高通货膨胀率在美国导致:

对外币的需求的增加,外汇的供给减少,美元贬值

21、Under a system of floating exchange rates, relatively high productivity and low inflation rates in the United States result in: 【D】A decrease in the demand for foreign currency, an increase in the supply of foreign currency, and an appreciation in the dollar

在浮动汇率制度下,相对较高的效率和较低的通货膨胀率在美国导致: 减少对外汇的需求,外汇的供给增加,美元的升值

22、Which example of market expectations causes the dollar to appreciate against the yen? Expectations that the U.S. economy will have: 【B】Higher future interest rates than Japan

市场预期的例子导致美元兑日圆升值?预期美国经济将会: 未来利率高于日本 23、Starting at the point of equilibrium between the money supply and the money demand, an increase in the domestic money supply causes the value of the home currency to: 【A】Depreciate relative to other currencies

开始在货币供给和货币需求之间平衡,国内货币供应量的增加导致国内货币的价值: 相对于其他货币贬值 24、Starting at the point of equilibrium between the money supply and the money demand, a decrease in the domestic money supply causes the value of the home currency to: 【B】Appreciate relative to other currencies

开始在货币供给和货币需求之间的平衡,减少国内货币供应导致国内货币的价值: 相对于其他货币升值 25、Starting at the point of equilibrium between the money supply and the money demand, an increase in the demand for money in the home country causes the value of the home currency to: 【B】Appreciate relative to other currencies

开始在货币供给和货币需求之间平衡,增加本国的货币需求导致国内货币的价值: 相对于其他货币升值 26、Starting at the point of equilibrium between the money supply and the money demand, a decrease in the demand for money in the home country causes the value of the home currency to: 【A】Depreciate relative to other currencies

开始在货币供给和货币需求之间的平衡,减少本国的货币需求导致国内货币的价值: 相对于其他货币贬值

27、Which theory of exchange-rate determination best views the foreign exchange market as being similar to a stock exchange where future expectations are important? 【C】Asset-markets approach

在外汇市场汇率决定理论最好的观点是类似于一个证券交易所,未来的预期是重要的? 资产市场方法

28、According to the purchasing-power-parity theory, the U.S. dollar maintains its purchasing-power parity if it depreciates by an amount equal to the excess of: 【C】U.S. inflation over foreign inflation

根据购买力平价理论,保持其购买力平价美元贬值通过相当于超过: 美国通货膨胀对外国通货膨胀

29、An exchange rate is said to __________ when its short-run response to a change in market fundamentals is greater than its long-run response. 【A】Overshoot

汇率据说开会时短期应对市场基本面变化大于其长期反应。

过度

30、In the short run, exchange rates respond to market forces such as: 【B】Expectations of future exchange rates 在短期内,汇率应对市场力量如: 对未来汇率的预期

31、Long-run exchange rate movements are governed by all of the following except: 【D】Interest rate levels 长期汇率变动是由所有的除外: 利率水平

32、Suppose the exchange rate between the U.S. dollar and the Japanese yen is initially 90 yen per dollar. According to purchasing-power parity, if the price of traded goods rises by 10 percent in the United States and remains constant in Japan, the exchange rate will become: 【B】81 pen per dollar

假设之间的汇率美元和日元最初90日圆兑一美元的水平。根据购买力平价,如果交易商品的价格上涨了10%在美国和日本保持不变,汇率将成为: 每美元81笔

33、Suppose the exchange rate between the U.S. dollar and the Japanese yen is initially 90 yen per dollar. According to purchasing-power parity, if the price of traded goods rises by 5 percent in the United States and 15 percent in Japan, the exchange rate will become: 【C】99 yen per dollar

假设之间的汇率美元和日元最初90日圆兑一美元的水平。根据购买力平价,如果交易商品的价格上涨了5%在美国,15%在日本,汇率将成为: 99日圆兑一美元的水平

34、Suppose that the yen-dollar exchange rate changes from 85 yen per dollar to 80 yen per dollar. One can say that the:

【A】Yen has appreciated against the dollar and the dollar has depreciated against the yen 假设日圆兑美元的汇率变化从1美元兑85日圆至85日圆兑美元。人能说: 日圆兑美元升值和美元兑日圆已贬值

35、Given a floating exchange rate system an increase in __________ would cause the dollar to appreciate against the euro. 【D】U.S. real interest rates

给定一个浮动汇率制度不会增加将导致美元兑欧元升值。 美国实际利率

36、Under a system of floating exchange rates, China trade surplus against US would result in a:

【A】Rise in the dollar price of RMB

在浮动汇率制度下,中国对美国贸易顺差会导致(一个): 人民币兑美元价格上涨

TRUE-FALSE QUESTIONS 判断题

【√】 1. In a free market, the equilibrium exchange rate occurs at the point where the quantity demanded of a foreign currency equals the quantity of that currency supplied. 在一个自由市场,均衡汇率发生在外国货币的需求数量等于货币供应的数量。

【√】 2. Under floating exchange rates, short-run exchange rates are primarily determined by national differences in real interest rates and shifting expectations of future exchange rates.

在浮动汇率下,短期汇率主要取决于国家实际利率的差异,将对未来汇率的预期。 【√】 3. Under floating exchange rates, relatively low domestic interest rates tend to promote depreciation of a currency’s exchange value while relatively high domestic interest rates lead to currency appreciation.

在浮动汇率下,相对较低的国内利率往往促进贬值货币的交换价值,而国内利率相对较高导致人民币升值。 【X】 4. Suppose expansionary monetary policy in the United States leads to interest rates falling to 2 percent while tight monetary policy in Switzerland leads to interest rates rising to 8 percent. With floating exchange rates, the dollar would appreciate against the franc. 假设美国扩张性的货币政策会导致利率跌至2%,而在瑞士从紧的货币政策会导致利率上升到8%。浮动汇率,美元兑瑞郎将不胜感激。

【X】 5. The purchasing-power-parity theory is used to predict exchange-rate movements in the short run.

购买力平价理论是用来预测汇率变动在短期内。

【√】 6. According to the law of one price, identical goods should cost the same in all nations, assuming there are no shipping costs nor trade barriers.

根据单一价格法则,相同的产品在所有国家应该成本相同的,如果没有运输成本和贸易壁垒。

【X】 7. The purchasing-power-parity theory predicts that if the U.S. inflation rate exceeds the Japanese inflation rate by 4 percent, the dollar’s exchange value will appreciate by 4 percent against the yen.

购买力平价理论预测,如果美国的通货膨胀率超过了日本的通货膨胀率4%,美元兑日圆汇率将升值4%。 【X】 8. Assume the initial yen/dollar exchange rate to be 100 yen per dollar. If the U.S. inflation rate is 2 percent and the Japanese inflation rate is 7 percent, the exchange rate should move to 105 yen per dollar according to the purchasing-power-parity theory.

假设初始日圆/美元的汇率是1美元兑100日圆。如果美国的通货膨胀率是2%,日本通货膨胀率是7%,1美元兑105日圆的汇率应该根据购买力平价理论。

【√】 9. Assume the initial dollar/pound exchange rate to be $2 per pound. If the U.S. inflation rate is 8 percent and the U.K. inflation rate is 3 percent, the exchange rate should move to $2.10 per pound according to the purchasing-power-parity theory.

假设最初的美元/英镑汇率每磅2美元。如果美国的通货膨胀率是8%,英国的通货膨胀率是3%,每磅2.10美元的汇率应该根据购买力平价理论。

【√】 10. Starting from the point of equilibrium between the money supply and money demand, if the Federal Reserve increases the money supply the dollar’s exchange value will depreciate according to the monetary approach to exchange-rate determination.

从货币供给和货币需求之间的平衡,如果美国联邦储备理事会(美联储,fed)货币供应量增加美元的汇率将根据货币贬值汇率确定的方法。

【X】 11. Starting from the point of equilibrium between the money supply and money demand, if there occurs an increase in the money demand the dollar’s exchange value will depreciate according to the monetary approach to exchange-rate determination.

从货币供给和货币需求之间的平衡,如果发生货币需求的增加,美元汇率将根据货币贬值汇率确定的方法。 【X】 12. Changes in market expectations have their greatest impact on exchange-rate changes over the long run as opposed to the short run.

市场预期变化对汇率的变化影响他们最大的长期而不是短期的。

【√】 13. According to the principle of exchange-rate overshooting, a short-run depreciation of a currency is likely to be greater than a long-run depreciation of that currency. 根据短期汇率过度的原则,货币贬值可能会大于长期贬值的货币。

【X】 14. According to exchange-rate overshooting, an appreciation of the Australian dollar is likely to be greater over a long time period than over a short time period. 根据汇率过度,澳元兑美元的升值很可能是过去很长一段时间比短时间内。

【√】 15. A forward premium on the British pound serves as a rough benchmark of the expected rate of appreciation in the pound’s spot rate.

英镑的远期升水作为粗基准的预期英镑的即期汇率的升值速度。

【X】 16. A forward discount on Mexico’s peso serves as a rough benchmark of the expected appreciation in the peso’s spot rate.

转发折扣墨西哥比索作为粗基准的比索的即期汇率的升值预期。

【√】 17. Although the law of one price predicts that identical goods should cost the same in all nations, transportation costs and tariffs tend to prevent this prediction from actually occurring.

尽管单一价格法则预测,相同的货应该在所有国家相同的成本,运输成本和关税实际上倾向于阻止这种预测发生。

【X】 18. If real interest rates decline in the United States relative to real interest rates abroad, the dollar’s exchange value will appreciate under a floating exchange-rate system. 如果实际利率下降,美国相对于国外实际利率,美元的汇率浮动汇率制度下会欣赏。

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